It is with little surprise that the Indian economy is starting to pick up the pace as the world starts to grapple with the normality of living fully, or at least in part, with Covid and the “new normal” that has come to preside over our lives. It is with great excitement that the sport industry has rebounded – leaving room for growth in a number of different organisational sectors.
The slowdown, or rather grinding halt, that was experienced throughout the sports industry was catastrophic for various stakeholders. However, 2021 has brought it with reason to celebrate and rejoice; particularly those who play, watch, and bet on sport. The relaxing of lockdowns and the tapering off of strict regulations means that sport is back in action. More so, spectators will return to once empty stadiums. The upcoming T20 fixture between India and New Zealand will be played at Eden Gardens with a 70% capacity crowd. A hopeful indication that sporting events will soon be able to fill venues to capacity.
There are various reports out there that detail the impact that Covid-19 had on the Indian sport industry. One such report, compiled and released by GroupM ESP, stated that sporting revenues were down 34% in 2020. However, this year will witness a big jump in revenue. It goes without saying that cricket is the biggest contributor to year-on-year revenue streams. Estimates outline that cricket contributes 85% while kabaddi and football come in second in relation to the overall sports industry.
The IPL has had a significant effect on growing viewership and revenue in the Indian market. Over the course of the last 13 years, the IPL has generated in excess of $5 billion. The success of the IPL has meant that the same model has been applied to other leagues in India in an effort to garner a wider following.
Revenue from endorsements, spending by media, and relevant sponsorships decreased by more than 30% in 2020. Once again, cricket was the biggest contributor by a country mile. Interestingly, sports celebrities’ pockets were lined more so than in previous years. Sporting stars such as Virat Kohli, Mary Kom, and Sania Mirza all walked away better off.
The Indian cricket team will complete their current bilateral series against New Zealand with the second of two tests at the Wankhede Stadium. After which, the upcoming summer in the Southern Hemisphere will see India tour South Africa. All three formats will be played and this offers Indian bettors a world of opportunity with the top betting sites. There’ll be plenty to write home about and it’ll be interesting to see how the Indian batsmen navigate the hard and fast wickets in Gauteng before travelling to Cape Town to play the shorter formats of the game.
The Men in Blue will also be playing the West Indies and Sri Lanka before most of the individual players rejoin their franchises for the next edition of the IPL. The Pro Kabaddi League will also take place from the 22nd of December – leaving bettors with even more markets to access and a number of potential outcomes to take into consideration.
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